LONDON (Alliance News) - Ediston Property Investment Co PLC on Wednesday said it has let three vacant units at Kingston Retail Park in Hull, England, to two new tenants.
The real estate company said it let two units, totalling 13,672 square feet, to Iceland Foods Ltd for ten years.
Charity Sue Ryder has signed a ten-year lease with a five-year tenant break option on the remaining unit, which extends to 5,196 square feet. If Sue Ryder were to exercise its break clause, it would be required to pay the company a penalty equivalent to six-months rent, Ediston said.
Both tenants have been granted a short rent-free period of three months.
"Whilst fully accepting the challenging conditions for retail generally, the leasing transactions announced by the company thus far in 2019 in Sunderland, Barnsley, Prestatyn and now Hull show that well located retail parks, let off sensible rental levels, continue to be attractive to retailers with propositions relevant to the needs of their customers," said Investment Manager Calum Bruce.
Ediston shares were trading 3.0% higher on Wednesday at 103.00 pence each.